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Nigerian stocks gain N226.1 billion as corporate scorecards excite investors

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NGX Group led the advance, drawing support from GTCO and oil palm processor Presco.

Nigerian stocks got off to an optimistic start on Monday, adding 0.91 per cent or N226.1 billion as the earnings season, so far marked by broadly improved performance across sectors, boosted investors’ confidence.For now, the tone of where the market will head in the near time will most possibly be set by whether the outstanding corporate results turn out positive or the other way.

Analysts at Lagos-based United Capital anticipate the market will retain “its bullish momentum as investors continue to take positions in anticipation of the forthcoming end-of-year releases.”

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